When do I take the inventory of packages of cigarettes that have old cigarette tax stamps attached?
You must take an inventory as of the close of business on June 30, 2007. The inventory must include a physical count of all packages of cigarettes, including those in cartons, that have an old cigarette tax stamp attached. This inventory must also include promotional packages of cigarettes that have an old cigarette tax stamp attached. You must immediately enter this information from Schedule A, which is located on the back of Form FT-TFT, Floor Tax Form for Cigarette Tax, and sign the report. (See Question 4 for information on filing the report.) Old cigarette tax stamp means either a purple $1.51 Connecticut cigarette tax stamp (for packages of 20 cigarettes) or a tan $1.8875 Connecticut cigarette tax stamp (for packages of 25 cigarettes). 2. Am I required to purchase and affix floor tax stamps to packages of cigarettes in inventory as of the close of business on June 30, 2007? You are not required to purchase and affix floor tax stamps to packages of cigarettes in your inventory as
